Power of a Push Notification

By Jennifer Woldt04.19.2017

Having an alert pop u on your smartphone to signal a new email, a mention in a tweet, or activity on Facebook is a daily occurrence for many consumers.

These alerts present a prime opportunity for credit unions to engage their members, according to “Push Notifications Are Redefining Financial Communications,” a white paper from Fiserv.

“Alerts are a pathway to open new channels of communication and potential revenue with consumers,” the white paper states.

These notifications:

  • Enhance engagement and retention. This ongoing interaction can simplify members’ lives and keep them engaged. It’s a way to build strong, trusted relationships with your members.
  • Reduce fraud risk exposure. Providing real-time alerts on unusual or potentially fraudulent activity can lower the cost and occurrence of fraud.
  • Promote greater self-service usage. A notification gives members an alternative for managing their finances. As a result, branch visits and calls to your technical support team decrease.

Keep these three principles in mind:

  1. Think of the member first. Know which alerts members want, when they want them, and how they’d like to receive them. Make it easy for members to set up alerts.
  2. Create relationships. Use the alerts as a method of regular conversation with members, to strengthen the relationship.
  3. Offer control. Allow members to take action when they receive an alert. Provide an easy and efficient way for them to manage their accounts.

(via Credit Union Magazine)

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